Chicago, September 21, 2010 ‐‐‐Younan Properties, Inc., a fully‐integrated, national real estate owner and operator of office buildings in five major U.S. office markets announced that it has leased more than 150,000 square feet of office space in its Chicago portfolio through the first eight months of 2010, with more than half of leased in the past three months. The leasing in Chicago represents new deals, tenant renewals and expansions.
Zaya Younan, Chairman and CEO of Younan Properties, noted that the recent leasing activity is a positive reflection on improving market fundamentals, and supports the strong partnership between Younan and its third party brokerage teams. "We are experiencing solid leasing activity throughout our Chicago portfolio, which is a tribute to our third party brokers, our regional leasing team and Younan's ongoing improvement of our leasing process."
Highlights of recent leasing in the Chicago submarkets include:
- Embassy Plaza, Schaumburg‐ New leases totaling 9,109 square feet. New tenants include Shelby, Inc. and Kleesoft, Inc.
- 1600 Corporate Center, Rolling Meadows‐ A renewal of 21,281 square feet by Regus.
- Bannockburn Corporate Center, Bannockburn‐ A new lease totaling 7,091 square feet by Parus Holdings, Inc.
- Younan Commons, Hoffman Estates‐ Five renewals totaling 23,452 square feet. Among the renewals are Whirlpool Corporation, LG Electronics, Mattel Sales Corporation, Electrolux, and Applica Consumer Products.
- Younan North LaSalle, Central Loop‐ A renewal of 4,000 square feet by the U.S. Government Printing Office.
According to Joe Stevens of Transwestern, an area leasing broker involved with Younan in the Chicago, "It has been challenging to complete leasing deals over the past year and a half, but Younan Properties continues to excel by providing quick turnarounds and a tenant friendly lease process. While many landlords are standing on the sidelines, Younan has taken this opportunity to be deal makers."
About Younan Properties
Younan Properties is a fully integrated, self‐administered and self‐managed owner and operator of primarily Class "A" office properties located in five major U.S. office markets, including Dallas‐Fort Worth, Chicago, Houston, Phoenix and Los Angeles. The portfolio consists of 36 office properties with nearly 11.0 million square feet of rentable space. Younan is a full‐service real estate company with in‐house expertise and resources in leasing, asset and property management, marketing, acquisitions, redevelopment, facility engineering and financing.
Contact: Denise Davis
818.703.9600 x 9705